Uzbekistan and Russia expand trade and economic cooperation

    Business 3 December 2024 340

    On December 2 of this year, Minister of Investment, Industry and Trade Laziz Kudratov took part online in the 3rd meeting of the Working Group on Increasing trade turnover between the Republic of Uzbekistan and the Russian Federation.

    During the meeting, the current state was reviewed in detail and further steps were outlined to accelerate the implementation of existing agreements between Uzbekistan and Russia in the fields of trade, industry, energy, transport and agriculture.

    In particular, the volume of trade turnover between the two countries increased by 20% to $ 9.7 billion in 10 months of this year. The range of products supplied by Uzbek manufacturers has increased by 68 new positions.

    The parties reviewed in detail the implementation of the joint action plan to increase the volume of trade between the Republic of Uzbekistan and the Russian Federation for 2024-2030, the main purpose of which is to bring the indicator of mutual trade to $ 30 billion. In this context, the importance of developing a set of measures, including cooperation in the fields of industrial production, transport and the agro-industrial sector, was emphasized.

    Following the meeting, the parties confirmed their readiness for further development of multifaceted cooperation and agreed on the dates of the next meeting of the Intergovernmental Commission on Economic Cooperation between the Republic of Uzbekistan and the Russian Federation before the end of this year in Moscow.